Meta, following Apple's lead, has decided to halt the release of new artificial intelligence (AI) features in the European Union (EU) due to regulatory uncertainty.
Both companies, Meta and Apple, have cited concerns over EU laws such as the Digital Markets Act (DMA) and General Data Protection Regulation (GDPR).
In a statement to Axios on July 17, Meta mentioned plans to introduce a new multimodal Llama model in the coming months, but not in the EU, attributing this decision to the unpredictable regulatory environment.
The EU’s DMA requires tech “gatekeepers” like Meta and Apple to ensure their products support interoperability with rival platforms, aiming to promote fair competition.
Meanwhile, Meta’s concerns with GDPR limitations on user data usage have also influenced its decision to pause AI developments in the EU.
Despite these challenges, Meta remains optimistic about launching future AI products, including advanced versions of its Llama AI model, in the United Kingdom where regulatory processes are perceived to be more favorable compared to the EU.
The Bank of Canada has announced that it is winding down its efforts on retail central bank digital currency (CBDC), as per an update on its website.
Circle is preparing for its initial public offering (IPO) and is set to relocate its headquarters to Wall Street in 2025, according to CEO Jeremy Allaire.
Crypto trader Michaël van de Poppe suggested that the Federal Reserve’s recent decision to cut interest rates by 50 basis points could positively influence the crypto market.
Solana Mobile has officially introduced its new cryptocurrency smartphone, “Seeker,” previously known as “Chapter Two.”